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Correlation between the Canadian dollar (against the US dollar and oil prices

The correlation between the Canadian currency (against the US dollar) and oil prices

There is a 0.78 positive relationship, with a score of 1 indicating a perfectly positive relationship between them.

This high correlation -- and the considerable extent to which the value of the Canadian dollar is tied to the US dollar -- can be directly attributed to the way Canada earns US dollars, and the percentage of Canada's revenue that this constitutes.

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